PDF attached
Weekly ethanol production was up 1,000 barrels per day to 1.107 million, about as expected, and stocks increased 204,000 barrels to 20.129 million (trade was looking for up 106,000 barrels). Weekly ethanol production is just shy of the record 1.108 million barrels established week ending December 1, 2017. Ethanol stocks are highest since the late September and are 2.3% above around this time year ago. Early September to date ethanol production is running 8.3 percent above the same period a year ago. US gasoline stocks declined 1.49 million barrels to 214.3 million. Gasoline stockpiles are at their lowest level since November 2017. US gasoline demand was up from the previous week by 181,000 barrels to 9.504 million and using a past 4-week average (Oct 1-22) it recovered roughly 9.5% a year ago and but is still off 1.6% from about the same period 2 years ago. US crude oil stocks fell to lowest since March. Crude inventories rose by 3.3 million barrels to 434.1 million barrels, compared with Reuters expectations for a 2.2 million barrel increase.
US DoE Crude Oil Inventories (W/W) 3- Nov: 3290K (est 2250K; prev : 4268K)
– Distillate: 2160K (est -1250K; prev -432K)
– Cushing OK Crude: -916K (prev -3899K)
– Gasoline: -1488K (est -1250K; prev -1993K)
– Refinery Utilization: 1.20% (est 0.50%; prev 0.4%)
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
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Weekly_EIA_Ethanol_Data-FI110321.pdf